The SEC’s Office of Investor Education and Advocacy (OIEA) and the Commodity Futures Trading Commission’s (CFTC) Office of Customer Education and Outreach warn investors to watch out for false claims about agency actions and endorsements related to digital assets. Fraudsters may use false claims to lure investors into purchasing digital assets and to artificially raise their value. “Digital assets” include crypto-currencies, coins, and tokens such as those offered in so called initial coin offerings (ICOs).

The statement says that the SEC and CFTC staff are aware of fraudsters making false claims about SEC or CFTC actions and endorsements related to digital assets. Examples of these false claims may include:

Having advance knowledge of future agency actions to approve new financial products that derive their value from digital assets.

Using the SEC or CFTC seal on promotional materials related to digital assets.

Advertising that agency officials are working with certain digital industry participants to bring their financial products to the market.

Be skeptical of anyone attempting to sell you digital assets, or any investment, that makes claims about future SEC or CFTC actions. Both agencies will announce any official actions, including those regarding digital assets, through official government sources such as an agency press release, the Federal Register, their official government websites (SEC.gov, Investor.gov, or CFTC.gov), or authorized public statements by the each agency’s leadership. Also, federal government agencies, including the SEC and CFTC, do not endorse or sponsor any particular securities, issuers, products, services, professional credentials, firms, or individuals. Real government officials or staff would never:

Do not trust information provided by someone contacting you with an investment idea when that person claims to be affiliated with any federal government agency, and always be cautious about providing personal information to anyone you do not personally know.

You should verify any information you read regarding an SEC action reported by a third party through official SEC sources. If you need assistance verifying information about an SEC action, call OIEA at 1-800-732-0330 or email at Help@SEC.gov(link sends e-mail).

If you have been contacted by someone pretending to be from the SEC, submit a complaint to the SEC’s Office of Inspector General (OIG) online at www.sec.gov/oig or call the OIG’s toll-free hotline at 833-SEC-OIG1 (833-732-6441).

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